Economy grows 1.4%

29 November 2011 - 13:42 By Sapa
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Rand notes. File picture
Rand notes. File picture
Image: Russell Roberts

South Africa's economy slightly expanded to a growth rate of 1.4 percent in the third quarter of 2011, Statistics SA says.

This was up from 1.3 percent in the previous quarter, said Gerhardt Bouwer, executive manager national accounts at Statistics SA in Pretoria.

The largest contributors to growth were finance, real estate and business services, which contributed 0.9 of a percentage point.

The wholesale, retail and motor trade; general government services; and the transport, storage and communication industry all contributed to growth.

The mining industry performed badly in the quarter showing negative growth of 17.4 percent due to low production in all mining divisions.

"The biggest factor was the strikes," Bouwer said.

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